Lee Ainslie Maverick Capital
Lee Ainslie is the founder of Maverick Capital, a long/short equity firm that emerged from the Tiger Management network of investors. Maverick is known for fundamental research, sector specialization among teams, and a classic hedge fund long/short structure. Ainslie’s firm remains a reference name among so-called Tiger Cub managers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar Tree
DLTR
|
+$376M |
| 2 |
Walt Disney
DIS
|
+$372M |
| 3 |
Mastercard
MA
|
+$204M |
| 4 |
Mohawk Industries
MHK
|
+$93.9M |
| 5 |
T-Mobile US
TMUS
|
+$91.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$223M |
| 2 |
Universal Health Services
UHS
|
+$120M |
| 3 |
Meta Platforms (Facebook)
META
|
+$111M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$110M |
| 5 |
Molson Coors Class B
TAP
|
+$81.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.29% |
| 2 | Technology | 18.75% |
| 3 | Consumer Discretionary | 18.68% |
| 4 | Healthcare | 16.13% |
| 5 | Consumer Staples | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Applied Materials
AMAT
$391B
| $8.27M | 0.1% |
178,980
-6,000
| -3% | -$309K |
|
102
ON Semiconductor
ON
$28.9B
| $8.21M | 0.1% |
369,130
-70,680
| -16% | -$1.71M |
|
103
F5
FFIV
$21.8B
| $8.21M | 0.1% |
+47,580
| New | +$7.93M |
|
104
Cinemark Holdings
CNK
$4.24B
| $8.18M | 0.1% |
+233,040
| New | +$8.59M |
|
105
Peabody Energy
BTU
$3.37B
| $8.15M | 0.1% |
+179,207
| New | +$7.34M |
|
106
Sony
SONY
$140B
| $8.06M | 0.09% |
+786,400
| New | +$7.65M |
|
107
Cognizant
CTSH
$27.9B
| $8.05M | 0.09% |
101,890
-54,630
| -35% | -$4.3M |
|
108
M&T Bank
MTB
$34.7B
| $7.98M | 0.09% |
+46,900
| New | +$8.41M |
|
109
Herbalife
HLF
$1.33B
| $7.96M | 0.09% |
+148,170
| New | +$7.79M |
|
|
HES
110
DELISTED
Hess
HES
| $7.91M | 0.09% |
+118,270
| New | +$7.07M |
|
111
ConocoPhillips
COP
$162B
| $7.91M | 0.09% |
+113,620
| New | +$7.57M |
|
112
Elevance Health
ELV
$86.9B
| $7.87M | 0.09% |
33,050
-6,380
| -16% | -$1.48M |
|
|
CIT
113
DELISTED
CIT Group Inc.
CIT
| $7.71M | 0.09% |
+152,860
| New | +$7.98M |
|
114
Madison Square Garden
MSGS
$9.78B
| $7.65M | 0.09% |
34,573
+27,339
| +378% | +$5.05M |
|
115
Transocean
RIG
$6.61B
| $7.62M | 0.09% |
566,610
-314,600
| -36% | -$3.87M |
|
116
Bausch Health
BHC
$2.41B
| $7.57M | 0.09% |
325,790
-310,190
| -49% | -$6.41M |
|
|
CSLT
117
DELISTED
CASTLIGHT HEALTH, INC.
CSLT
| $7.53M | 0.09% |
1,771,350
+32,183
| +2% | +$121K |
|
118
UnitedHealth
UNH
$350B
| $7.48M | 0.09% |
30,480
-10,820
| -26% | -$2.6M |
|
119
Cigna
CI
$73.3B
| $7.46M | 0.09% |
43,890
-3,320
| -7% | -$575K |
|
120
Churchill Downs
CHDN
$6.53B
| $7.44M | 0.09% |
+150,480
| New | +$7.04M |
|
121
Starbucks
SBUX
$122B
| $7.39M | 0.09% |
151,190
-121,490
| -45% | -$6.9M |
|
|
SC
122
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $7.38M | 0.09% |
386,870
-108,480
| -22% | -$1.98M |
|
123
Chipotle Mexican Grill
CMG
$46.7B
| $7.38M | 0.09% |
+855,500
| New | +$6.99M |
|
124
Bath & Body Works
BBWI
$3.92B
| $7.38M | 0.09% |
+247,449
| New | +$7.15M |
|
125
Cadence Design Systems
CDNS
$87.9B
| $7.36M | 0.09% |
169,920
-65,360
| -28% | -$2.69M |
|
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Lee Ainslie's Q2 2018 Portfolio in Review
As of Q2 2018, Lee Ainslie held 315 positions worth $8.55B, up 10% from $7.75B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Lee Ainslie deployed $387M of net new capital in Q2 2018, opening 97 new positions and adding to 49 existing holdings. Its largest new stake was Walt Disney: 3,640,348 shares worth $382M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Visa, an estimated $223M trimmed.
- Lee Ainslie's largest Q2 2018 buy was Walt Disney: 3,640,348 shares worth $382M.
- Lee Ainslie added most to Dollar Tree in Q2 2018, an estimated $376M increase.
- Lee Ainslie's biggest Q2 2018 reduction was Visa, cutting an estimated $223M.
- Lee Ainslie fully exited Molson Coors Class B in Q2 2018, selling an estimated $81.5M.
- Lee Ainslie's ten largest holdings make up 43% of its $8.55B portfolio in Q2 2018.
- Lee Ainslie opened 97 new positions and closed 80 in Q2 2018.
- Lee Ainslie's portfolio value rose 10% quarter-over-quarter to $8.55B.
Based on Maverick Capital's 13F filing for Q2 2018, filed 14 Aug 2018.